The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-06-08
THE CHICAGO MARKETS.
Wheat Controlled by tho "BuIls'-Corn
Ouiet-Provfsions Dull.
snacial 10 the sentinel.


Special to the Sentinel.
CHICAGO, June 4.-The ''bull" CLIQUE in
wheat now practically own or control every
bushel Of wheat in Chicago warehouses.
Their tactics are still a mystery to the
crowd. Considerable gossip is afioat to the
effect that the shorts are making private
settlements with IRWIN, Green & Co., a
clique house, but these are not frequent
enough nor heavy enough to make their
plans clear. Thus the crowd is unable to
decide whether the manipulators are will
ing to realize at present prices or are SIM
ply allowing the market to ease off so as to
retard the sending of wheat here. Already
receipts, which promised to be enormous,
have fallen off wonderfully, and the pros
pect is that the rail rate from Minneapolis
here will be raised from &c to 10c. This
vii make vast difference TO shorts as
June wheat can then sell at 90 cents in Chi
ago and shipments from Minneapolis or
Duluth still be improbable. The fact that
the st. Paul and Northwestern roads al
ready refuse to take wheat for Chicago is
pretty good evidence that the "bulls'' have
some influence with the railroads as well
as the shorts"
Flsgler and several other Standard Oil
lights were in the city this week, which
was regarded as significant. These men are
railroad directors, but the statement that
they we're here solely to attend the annual
meeting of the Rock Island was received
with smiles of incredulity. The local crowd
has made up its mind that Standard Oil
money is running the deal, and any little
circumstance tending to confirm this is
taken as the most convincing proof.
1t is at present uncertain whether the
| clique houses are really buying or selling
the July option. The best opinion, how
ever, is that they are buying, but that they
desire to get hold of it as cheaply as posi-
pie, and so encourage the bears to do all
the raiding they will. In any case, with
| all the cash wheat tied up a July short
must soon feel about as uncomfortable as a
June short" The clique certainly has
abundant funds. They paid for the June
| deliveries with bills on New York, and,
with about 81, 800, 900 offered, Eastern ex-
change is just now drug on the market.
| Considering the heavy reported short in
teIest the pit takes the squeezing
process very phlegmatically. This may
losers are rich men-"stayers'; as they de.
| light TO call themselves-or there may be
more cash wheat which can be brought
/ forward to fill contracts than is generally
/ estimated. Clearances from New York are
large, and considerable new business is re
ported daily. Crop advices are uniformly
i favorable.
Corn rules easy but very quiet, speculs
tors giving all their attention to wheat
Receipts are heavy and weather condition.
| very favorable for the growing crops.
/ Provisions continue dull and uninterest
ing, although some strength has beer
caused by the fact that the statement of the
stock of short-ribs in store aid not come uy
10 expectations. The product ct interior
points, too, has been pretty well sold on
and fresh supplies must be drawn from
| Chicago.